National Security Variable Account N has announced a series of reorganizations involving several of its investment portfolios. This strategic move is designed to streamline operations and potentially lower costs for investors holding variable annuity contracts and variable life insurance policies.

The reorganizations were approved by the Board of Directors of the AuguStar Variable Insurance Products Fund, Inc. The Board concluded that each reorganization is in the best interests of the involved portfolios. As a result, the total annual operating expenses of the survivor portfolios are expected to be the same or lower than those of the target portfolios.

Background

National Security Variable Account N, identified under the Central Index Key (CIK) 0001164384, operates as an investment entity. The company has filed several forms with the SEC, including multiple 497 forms on November 3, 2026, indicating ongoing updates and communications with investors.

What the Filing Says

The filing details that the reorganizations will take effect as of December 18, 2026. It states, "You are receiving this notice because you have Contract value allocated to one or more of the target portfolios listed in the table below." This indicates that affected contract owners will see their assets transferred to corresponding survivor portfolios.

Impact

The changes may affect numerous investors who have allocated funds to the target portfolios undergoing reorganization. The filing specifies that the information applies only to those with contract values in the affected portfolios, ensuring that relevant stakeholders are informed about the upcoming changes.

What's Next

Following these reorganizations, investors will not need to take any immediate action unless they wish to reallocate their contract values. The company has provided a window from October 19, 2026, through February 16, 2027, during which investors can make one transfer of contract value without incurring charges. An information statement and prospectus detailing the reorganizations will be available on or about November 20, 2026.